NETFLIX fans will be able to watch their favourite shows for less as the streaming giant is set to launch an ad-supported package.
A cheaper subscription option will be launched on November 1, according to reports from Wall Street Journal and Variety.
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Netflix hasn’t confirmed how much the package will cost – but experts have estimated it could be around £5.49.
The introduction of adverts will allow Netflix to charge users less, in a bid to boost subscriber numbers, which dropped for the first time in 10 years.
Some fans have been left with no choice but to cancel the service as the cost of living crisis hits.
It comes after the streaming giant hiked the price of all of its subscriptions earlier this year.
Netflix’s basic and standard plan prices went up by £1 a month, to £6.99 and £10.99 respectively.
A spokesman said the increase would allow it to “continue investing in best in class UK productions” and “offer a wide variety of curated quality shows and films” to customers.
The UK is Netflix’s biggest production hub outside the US and Canada, with a $1billion UK production budget in 2020.
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The announcement makes the streaming platform the latest entertainment company to announce the introduction of ad-supported plans.
Disney+ has shared details about its plans to launch a cheaper, ad-supported plan later this year.
Subscribers to the new payment tier will have to watch up to four minutes of adverts an hour as part of their viewing experience.
The cost of a Disney+ subscription has also jumped, with annual customers seeing their bills go up from £59.99 to £79.90 a year.
Can I cancel my Netflix subscription?
If you’re not happy with the price increase you might consider cancelling your Netflix subscription.
You can end your Netflix membership at any time and you won’t be charged any additional fees for leaving.
If you cancel within your billing period you’ll be able to use the streaming services until it comes to an end.
Customers who want to end their contract or switch to a cheaper package can do so on the Netflix website by logging into their account
Abigail Yearley from TopCashback previously told The Sun consumers should review their monthly subscriptions to save money.
She said: “We would recommend consumers be extra diligent when they sign up for subscriptions or memberships.
“It’s easy to get lured in by free trials, and then continue to pay for services they aren’t getting use out of.
“Even though costs for individual subscriptions might not sound like much each month, it all adds up in the long run.
“If you need to make some cuts to your outgoings, we would urge you to cull subscriptions you can do without.”
